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Plot Loans

If you’ve found the spot to build your future, we can help make it yours. Karza House Loans can
help finance a plot of land to build your dream home.

Save on EMI payments
Loan to Value of Up to 80%
Low interest rates from 8.64%
Low Interest Rates From 9.19%
Speedy Sanctions and Disbursal
Speedy Sanctions and Disbursal
Avail EMI Break
Avail EMI Break
Design your EMI

Key Benefits

  • Low EMI Payments with reduced interest rates starting from 9.19%
  • Get Speedy Sanctions and quick disbursals with minimum documentation
  • Avail EMI Break in the 1st 3 years of your loan
  • Loan to Value of Up to 80%

*T&C Apply

We understand that life can be hard at times. We can ease it financially by giving you an EMI break when you most need it:
Rewards

EMI Break

  • Avail breaks for 3 predefined EMI’s/ PEMI’s in the first 3 years of the loan. Yes!, you pay 11 out of 12 months in the 1st 3 years of the loan.
  • Salaried customers can avail an EMI Break in March (tax season), Salaried NRI & Self-Employed Business customers in September (festival season) and Practicing Professionals in June (holiday season).

 

*T&C Apply

Low Interest Rates

Has been designed for what is beneficial to you! You can now fulfil your personal and business
needs by availing our Loan against Property. It comes along with these beneficial features.

Resident
Salaried

9.19%

per annum onwards

Non-Resident Indian

Salaried

9.19%

per annum onwards

Business

Self Employed

9.19%

per annum onwards

Practicing Professionals

Self Employed

9.19%

per annum onwards

Calculate your EMI

EMI:

0 INR

Total Interest Payable:

0 INR

Total of Payments (Principal + Interest):

0 INR

Documents Just what is needed. Nothing more.

KYC Documents
Pan Card or Form 60 is a mandatory requirement for the loan application processing
For Proof of Identity and Address, any one of the below documents is acceptable
  • Proof of possession of Aadhaar number
  • Valid Passport
  • Valid Driving License
  • Voter’s Identity Card
Income Documents
For Income Documents, we accept
  • Latest 1 month salary slip, or a Salary Certificate authorized by the signatory of the company on the letter head
  • Proof of employment for 2 years (Form 16 or Joining date on salary slip or employer letter or appointment letter etc.)
  • Last 6 months statement of bank account where salary is credited
  • Proof of bonus of last 2 years or Variable incentive for last 6 months – Bank statement reflecting the credits and salary slip letter reflecting bonus or variable incentive
  • Bank statement reflecting EMI clearance of Last 6 EMIs OR Statement of account
  • Sanction letter to evidence Collateral address
  • Customer declaration for – Loan outstanding & List of documents submitted.
Property Documents
For Under construction Home Loans – Approved Projects
  • Allotment Letter or Stamped Agreement for Sale
  • Payment Receipts or bank account statement showing all payments made to the Builder
For Resale Home Loans
  • Current Registered or Draft Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
  • Prior Chain Link title documents
  • Occupancy Certificate (in case property is ready) or Approved Plan copy (Xerox Blueprint)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt
  • Payment Receipts or bank account statement showing all the payments made to Seller
KYC Documents
  • Pan Card or Form 60 is a mandatory requirement for the loan application processing
  • Proof of identity (Aadhaar number/ Valid Passport/ Valid Driving License / Voter’s Identity Card)
  • Proof of Address (Aadhaar number/ Valid Passport/ Valid Driving License / Voter’s Identity Card)
Income Documents
  • ITR and Financial statements including P&L, Balance Sheet, COI & Schedules – 2 Years – certified by a Chartered Accountant
  • Bank Statements for last 12 months
  • Business Continuity Proof for 5 years
  • Tax Audit Report, if applicable
  • Bank statement reflecting EMI clearance of Last 6 EMIs OR Statement of account
  • Sanction letter to evidence Collateral address
  • Customer declaration for – Loan outstanding & List of documents submitted.
Property Documents
For Under construction Home Loans – Approved Projects
  • Allotment Letter or Stamped Agreement for Sale
  • Payment Receipts or bank account statement showing all payments made to the Builder
For Resale Home Loans
  • Current Registered or Draft Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
  • Prior Chain Link title documents
  • Occupancy Certificate (in case property is ready) or Approved Plan copy (Xerox Blueprint)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt
  • Payment Receipts or bank account statement showing all the payments made to Seller
KYC Documents
  • Pan Card or Form 60 is a mandatory requirement for the loan application processing
  • Proof of identity (Aadhaar number/ Valid Passport/ Valid Driving License / Voter’s Identity Card)
  • Proof of Address (Aadhaar number/ Valid Passport/ Valid Driving License / Voter’s Identity Card)
Income Documents
  • ITR and Financial statements including P&L, Balance Sheet, COI & Schedules – 2 Years – certified by a Chartered Accountant
  • Practice Continuity Proof for 5 years
  • GST challans for last 1 or 2 or 3 quarter since filing of last returns
  • Tax Audit Report, if applicable
  • Bank statement showing Rental credits & Registered Rent Agreement, if applicable
  • Bank statement reflecting EMI clearance of Last 6 EMIs OR Statement of account
  • Sanction letter to evidence Collateral address
  • Customer declaration for – Loan outstanding & List of documents submitted.
Property Documents
For Under construction Home Loans – Approved Projects
  • Allotment Letter or Stamped Agreement for Sale
  • Payment Receipts or bank account statement showing all payments made to the Builder
For Resale Home Loans
  • Current Registered or Draft Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
  • Prior Chain Link title documents
  • Occupancy Certificate (in case property is ready) or Approved Plan copy (Xerox Blueprint)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt
  • Payment Receipts or bank account statement showing all the payments made to Seller
KYC Documents
  • In case of Indian Passport Holder- Certified copy of Valid Indian Passport along with copy of valid visa copy or work or residence permit copy.
  • In case of Foreign Passport holder, copy of valid Foreign Passport along with OCI (Overseas Citizen if India) card or PIO (Person of Indian Origin) card.
Income Documents
For Income Documents, we accept
  • Latest 3-month salary slip, or a Salary Certificate authorized by the signatory of the company on the letter head
  • Proof of employment for 5 years (Tax returns or Employment contract or Joining date on salary slip or employer letter or appointment letter etc.)
  • Last 6 months statement of bank account where salary is credited and last 6 months NRE or NRO bank statement.
  • Latest valid Contract Copy and / or appointment letter
  • Complete Continuous Discharge Certificate (CDC) for employees working on Ships
  • Overseas Credit Bureau report not older than 30 days
Property Documents
For Under construction Home Loans – Approved Projects
  • Allotment Letter or Stamped Agreement for Sale
  • Payment Receipts or bank account statement showing all payments made to the Builder
For Resale Home Loans
  • Current Registered or Draft Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
  • Prior Chain Link title documents
  • Occupancy Certificate (in case property is ready) or Approved Plan copy (Xerox Blueprint)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Property Tax Receipt
  • Payment Receipts or bank account statement showing all the payments made to Seller

FAQs

What is Plot Loan ?

A Plot loan is an amount of money that a person borrows from a financial institution to purchase a plot of land for the construction of a residential unit on the same. This loan is at a certain rate of interest for a particular number of years (tenure), which is to be paid back in equated monthly instalments (EMI).

Are there any specific condition to met for Plot loan?

There are a few conditions that need to be met for Plot loans,

 

  • The residential plots for construction otherwise allocated by the builders are to be approved by Karza House.

  • The plot should be clearly identifiable and demarcated

What is the Process follows for a plot loan ?

Step 1: Submit your Application

The loan application you submit will consist of duly filled loan application form, proof of income, proof of identity and address.

 

Step 2: Application Evaluation and Loan Sanction

Our internal team immediately gets to work for the evaluating the application and processing it further for the sanctioning of the loan.

 

Step 3: Property valuation

Once the property papers are shared, & legal technical valuation of the plot is done to see if all is in order and approve the disbursal of the loan. Of course, this step gets much easier when you’re buying a home from an approved project.

 

Step 4: Loan Disbursal

Post these approvals, signing the loan agreement takes place, leading to disbursal of the loan

What is credit valuation ?

A financial institution undertakes certain risks while lending money to borrowers, so for prudent lending, the institution checks the borrower’s repayment capacity through his/her savings, income, age, qualifications, nature of work, any loans currently served, etc. This is called Credit Evaluation and determines the loan eligibility comprising of the loan amount, tenure of the loan and the rate of interest.

What is property valuation ?

A financial institution empanels agencies for objective valuation of the property it takes against the loan as security. The valuation is based on its age, usage, legal documentation, condition as well as geographical location. Market conditions also come into play, including whether there is a high demand for that particular type of property in the area in which it is located.

What is the process of register my property ?

Registration of a property includes necessary stamping and paying of registration charges (may vary from state to state) for a sale deed and getting it recorded at the sub-registrar’s office of the concerned jurisdictional area.

What is processing fees ?

Processing fee is a one-time charge to be paid by the borrower to the financial institution to covers the cost incurred to process a loan application.

What is santion letter ?

A loan sanction letter is issued by a financial institution post evaluation of an applicant’s creditworthiness and other details like KYC etc. This letter is proof of eligibility of a loan from the financial institution and mentions the main loan details like maximum loan amount, maximum tenure, type of rate of interest EMI amount and special conditions if any. A sanction letter with these conditions is valid for a specified period of time.

What is power of attorney ?

A Power of Attorney allows a person to grant another person the right to make decisions regarding the person’s assets, finances and real estate properties.
There are two types of power of attorney.
First, the ‘General Power of Attorney’where a property owner confers ‘general’ rights. The rights include but are not limited to sell, lease, sub-lease etc.
Second, is the ‘Special Power of Attorney’wherein only a specific right is given by the owner to the chosen person.

What is equated monthly installment (EMI)

The EMI is the amount of money a borrower pays back to a financial institution on a monthly basis towards the loan availed. It comprises of 2 components – the principal and the interest. So with every EMI, the borrower pays back a portion of the loan amount as a principal and a certain amount of interest. The EMI amount remains constant and by the end of the tenure, the borrower has paid back both principal and interest amount in full.

What is Pre-EMI ?

Pre-EMI is the interest amount paid by the borrower till the time final disbursement is pending and EMI is initiated. It is the interest on the amount of the loan disbursed and is payable every month from the date of each disbursement up to the date of commencement of the EMI. Pre-EMI is mostly applicable in cases where Under Construction property is being purchased on loan

What is repayment tenure ?

The time period (in months or years) for which a financial institution lends the money to a borrower. The tenure may be different from person to person.

What is APF ?

APF stands for Approved Project Funding.
Karza House identifies projects by certain developers and builders and evaluates basis the properties’ legal and technical evaluation. If a project qualifies the necessary requirements, it’s included in the APF master of Karza House .
The TAT(turn around time) for a loan disbursal, is lesser, where a project is already an APF and the loan processing is much simpler.

What is Loan to Value ratio ?

Loan to Value (LTV) is the amount of loan divided by the total value of the property and is represented in %. A loan value of INR 75 lakhs for a property worth INR 1 Crore would mean 75% LTV.

What is loan disbursement ?

Disbursement means paying out the loan amount to the borrower or the builder from which the borrower has bought the home. The disbursement can be either in full or in tranches depending on the type of home financed (tranches are common for under-construction properties) and the terms agreed between the financial institution and the borrower.

What is welcome letter ?

A welcome letter is sent by a financial institution once a customer is fully onboarded. The welcome letter consists of the most important terms and conditions (MITC), Repayment Schedule, Schedule of Charges and all important loan details.

What is statement of accounts ?

A loan account statement details out all the transactions completed in a particular loan account date by date. It also shows the outstanding balance due, the interest rate charged on that outstanding balance and any fees/charges incurred. However, the outstanding balance as reflected in SOA may not be the amount that you have to pay to close the account

What is MITC , Most important terms & conditions ?

Most Important Terms and Conditions details out the Loan details, repayment schedule, schedule of charges and any other relevant details of a loan account which a borrower must know. It is available on both website as well as on customer portal.

What is interest certificate ?

An Interest Certificate is a document issued by the lender which details out the bifurcation of the Principal and Interest Amount paid towards a home loan account in a particular financial year.

What is no objection certificate ?

The NOC, or No Objection Certificate, is a document that states that you have paid all the EMIs and cleared all other outstanding loan dues and is issued by the company post the closure of the loan account. Please note that till the time NOC is not issued you may have liability towards Karza House.

What documents are required for the foreclosure of a loan ?

You are required to submit the below-listed documents along with an application for loan foreclosure: 

 

  • Proof of Identity: This can be verified using Officially Valid Documents (OVD) like your Aadhar Card, Passport, Voters Identity Card, or Driving License.
  • Proof of last EMI payment: This can be shown using your recent bank statement reflecting the last EMI deduction.
  • Source of funds for closure: A bank statement of the last 30 days and a sanction letter from a financial institution will be required.
  • Loan documents
  • Details of your loan account
What are bounce charges ?

Bounce charges are incurred if the EMI is not paid by the borrower on the due date.

What are late payment charges ?

Late Payment Charges, also referred to as ‘Penal charges’ are the charges incurred on the late payment of the outstanding dues in case of EMI bounce, by the borrower.

What are SWAP charges

Swap charges are incurred by the borrower for changing the repayment instrument or change in the bank account for NACH Mandates.

What are recovery charges ?

Recovery charges are levied by the Company for any expenses incurred on the collection of overdue from the borrowers.

What are foreclosure or pre-payment charges ?

Foreclosure or prepayment charges are the charges a borrower incurs for partly paying/closing the loan ahead of its full loan term.

What are stamp duty and registration charges

Charges paid by the customer as per State laws to register Finance Documents.

Why is loan insurance important ?

It is advisable to secure insurance for your loan as a proactive measure against unforeseen events like death, which could potentially lead to difficulties in meeting EMI obligations. Loan insurance serves as a voluntary risk mitigation tool, safeguarding the borrower in such situations. 

Will Karza House ensure that the benefit & details of the insurance are provided to the customer ?

The insurance contract is between the Insurer and the customers. The company plays a limited role in facilitating the insurance contract between customers and Insurers. It will be the Insurer’s responsibility to provide details and benefits to the customers.

What are the benefit of loan linked insurance ?

Loan-linked Insurance covers a large amount of the loan liability. In any unforeseen circumstances like death, disability, hospitalization, and diagnosis of critical ailments, the Insurer can repay the loan liability through Insurance.

What are the benefit of credit life insurance ?

Credit-Life Insurance provides death cover for natural, accidental, and unnatural cause deaths. It also includes coverage for death due to Covid-19 and can be extended to co-borrowers. Customers can also avail the benefit of Section 80-C Income Tax deduction.

What are the benefit of survival-benefit plan ?

Survival-Benefit Plan is for critical illness insurance and provides additional cover for medical emergencies like heart attack, stroke, or cancer. Because these emergencies or illnesses often incur greater than average medical costs, these policies pay out cash to help cover those overruns where traditional health insurance may fall short. These policies come at a relatively low cost. However, the instances that they will cover are generally limited to a few illnesses or emergencies.

What are stamp duty and registration charges

Charges paid by the customer as per State laws to register Finance Documents.

Plot Loans

Our Services

What We Offer for You

Home Loan
Home Loan

Tailored solutions, competitive rates, and personalized service, turning your homeownership dream into reality

Business Loan
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Empowering business growth with flexible financing options for your commercial real estate

Business Loans

Fueling your entrepreneurial journey with tailored financing solutions and expert financial support.

Personal Loan

Your trusted partner for achieving life’s goals with hassle-free, quick, and flexible financing

Professional Loans
Professional Loans

 Elevating your career with specialized financial support tailored to your unique needs

Plot Loans

Turning your landownership aspirations into reality with customized financing and expert guidance

Tractor Loan
Tractor Loan

Cultivating your agricultural success with specialized financing for your farming equipment needs.

Balance Transfer

Simplifying your financial life with seamless loan transfers for greater savings and convenience

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